Tag: EIP

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If your $600 stimulus payment (also referred to as the second economic impact payment, or EIP2) still hasn’t arrived in your bank account or mailbox, you may be wondering if you should wait to file your tax return. After all, you’ve likely heard of the Recovery Rebate Credit (RRC) by now, which lets taxpayers claim missing stimulus…

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Now that many taxpayers have received (and most likely spent) their Economic Impact Payments (EIPs), they’re wondering how that extra cash is going to affect tax returns in the winter and spring of 2021. Let’s go over the basics and some common questions about how your stimulus payment will affect your 2020 taxes. How do…

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